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Oil official:

Iran Ready for Sudden Cut in Gas Supplies

TEHRAN (FNA)- A senior oil official said Iran has worked out several ways to make up for any possible cut in gasoline supplies to the country, reiterating that Tehran is now fully ready to overcome any sudden embargo on its fuel imports from abroad. "We are currently producing 45 million of liters of gasoline per day, and we have prepared the ground so well that we would not feel any kind of shortage, and even if all suppliers embark on stopping sales (of fuel) to Iran, there would be no problem," Deputy Oil Minister for International Affairs Hossein Noqrekar Shirazi told FNA on Monday. Meantime the official dismissed the possibility of a sudden cut in fuel supplies to Iran, mentioning that suppliers are competing with each other to sell their products to the country. He stressed that Iran will join the worlds main gasoline suppliers within the next two and half years, and added, "Out domestic production would surpass one million barrels a day once we become an exporter. " Noqrekar Shirazi also reminded 30 years of different types of pressures and sanctions against the Islamic Republic, and said pressures backfire because they increase the countrys attention and reliance on domestic production. He also underlined Irans technical capabilities in the oil and gas sectors, and noted, "Our technology is weaker than that of some countries but today more that 70% of the tools and equipments needed by our oil industry, including those which require both simple and advanced technologies, are manufactured inside the country. " Last week, Iranian Oil Minister Masoud Mir Kazemi said his country could switch production to gasoline to make up for any shortfalls from the new sanctions. "We can stop production of petrochemicals at any moment we decide and produce gasoline (instead)," he said.

14:40 - 14/07/2010    /    Number : 6402    /    Show Count : 8918

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